2024-09-13T11:11:28-04:00 2023-12-31 570692602 BURKETT BURKETT & BURKETT CPAS PA 128 E MAIN STREET SUITE 201 ROCK HILL SC 297304540 990 2023-01-01 813858015 I58 INC I58I 8032095553 1841 JA COCHRAN BYPASS SUITE H CHESTER SC 297062672 LESLIE BRAKEFIELD DEVELOPMENT DIRECTOR 8032094183 2024-06-27 true true WILLIAM DRINNON CPA P01517888 8033251660 2024-09-13 2023 2024-08-08 14:25:15Z KEVIN TAYLOR 1841 JA COCHRAN BYPASS SUITE H CHESTER SC 29706 590072 false X HTTPS://I58HELPS.ORG X 2016 SC TO EMPOWER LOWER TO MODERATE INCOME INDIVIDUALS THROUGH COMMUNITY REVITALIZATION INITIATIVES SUCH AS HOUSING, NEIGHBORHOOD BEAUTIFICATION, AND FAMILY SERVICES. 6 6 4 10 0 224313 578575 795025 11200 0 9159 297 1028497 590072 0 0 113829 81365 0 2691 880461 361665 994290 443030 34207 147042 348889 684228 100679 208632 248210 475596 X TO EMPOWER LOWER TO MODERATE INCOME INDIVIDUALS THROUGH COMMUNITY REVITALIZATION INITIATIVES SUCH AS HOUSING, NEIGHBORHOOD BEAUTIFICATION, AND FAMILY SERVICES. false false 342384 HOME REPAIR PROGRAM - THIS PROGRAM IS DESIGNED TO ASSIST LOW-INCOME HOMEOWNERS IN MAKING NEEDED REPAIRS TO THEIR PRIMARY RESIDENCE TO ADDRESS CRITICAL LIFE, HEALTH AND SAFETY ISSUES. THIS IS DONE WITH SEVERAL DIFFERENT FUNDING SOURCES SUCH AS, SOUTH CAROLINA HOUSING TRUST FUND, HUD OLDER ADULT HOME MODIFICATION FUNDS, AND DUKE WEATHERIZATION FUNDS. EACH FUNDING SOURCE HAS DIFFERENT APPLICATION PROCESSES AND WAITING LIST. 20408 11200 RENTAL HOUSING PROGRAM - THE PURPOSE OF THIS PROGRAM IS TO PROVIDE AFFORDABLE HOUSING FOR INDIVIDUALS WHO HAVE COMPLETED REHABILITATION OR RECOVERY PROGRAMS. RENT RATES ARE TYPICALLLY LOWER THAN MARKET RATES AND ARE OFTEN SUBSIDIZED THROUGH OTHER STATE HOUSING URBAN AND DEVELOPMENT PROGRAMS. I58 UNDERSTANDS THIS CAN BE CRUCIAL FOR THEIR SUCCESSFUL TRANSITION TO INDEPENDENT LIVING. BY OFFERING SUPPORT THROUGH THIS PROGRAM, I58 IS HELPING TO ENSURE THAT THESE INDIVIDUALS HAVE A STABLE ENVIRONMENT AS THEY CONTINUE THEIR JOURNEY TOWARDS SELF-SUFFICIENCY. IT IS A WAY TO EMPOWER THOSE INDIVIDUALS TO REBUILD THEIR LIVES AND THRIVE AFTER OVERCOMING CHALLENGES. 14958 TRANSITIONAL MEN'S HOUSING PROGRAM - THIS PROGRAM IS DESIGNED TO SERVE AS A RESIDENCE FOR CERTAIN MEN IN THE COMMUNITY. THE TRANSITIONAL HOUSE ITSELF FEATURES SIX BEDROOMS AND THREE BATHROOMS. THE HOUSE HAD BEEN ABANDONED FOR OVER A DECADE AND WAS PREVIOUSLY ENCUMBERED BY A RESTRICTIVE COVENANT IMPOSED BY HUD. IT NOW PROVIDES A SAFE AND SECURE ENVIRONMENT FOR MEN WHO HAVE SUCCESSFULLY COMPLETED A 90-DAY REHABILITATION PROGRAM AND WISHES TO CONTINUE THEIR JOURNEY OF RECOVERY. I58 OFFERS COMPREHENSIVE SUPPORT SERVICES, INCLUDING ASSISTANCE IN JOB PLACEMENT AND CREDIT BUILDING, ENABLING THESE INDIVIDUALS TO BECOME CONTRIBUTING MEMBERS OF OUR COMMUNITY IN AS LITTLE AS 18 MONTHS AND EMPOWERING THEM TO ACHIEVE INDEPENDENT LIVING. THE RESIDENTS OF THE HOUSE CONTRIBUTE 80 PER WEEK, WHICH GOES TOWARDS COVERING THE COST ASSOCIATED WITH THE MORTGAGE, UTILITIES, INSURANCE, AND MAINTENANCE OF THE PROPERTY. 2691 THROUGH I58'S HOMEOWNERSHIP PROGRAM, A PIVOTAL PARTNERSHIP WAS FORGED WITH YORK TECHNICAL COLLEGE IN ROCK HILL, SC, ENABLING I58 TO CONSTRUCT 900 SQ. FT., 2-BEDROOM / 2-BATHROOM HOMES. THESE HOMES ARE METICULOUSLY CONSTRUCTED ON CAMPUS IN ROCK HILL, SC, AND THEN TRANSPORTED TO A LOT IN CHESTER COUNTY, SC, THAT WAS EITHER PURCHASED OR DONATED TO I58. THROUGH A PARTNERSHIP WITH THE CITY OF CHESTER, THE CITY HAS DONATED LOTS TO I58. THIS COLLABORATION NOT ONLY PROVIDED STUDENTS WITH VALUABLE HANDS-ON EXPERIENCE IN THE DIFFERENT AREAS OF CONSTRUCTION BUT ALSO SIGNIFICANTLY REDUCES I58'S CONSTRUCTION COSTS. WITH THE REDUCTION OF THE CONSTRUCTION COST, THIS ALLOWS I58 TO PROVIDE A FORGIVABLE SECOND MORTGAGE TO MAKE THE BORROWING AMOUNT LESS FOR THE HOMEOWNER FROM A FINANCIAL INSTITUTION. THE FORGIVABLE SECOND MORTGAGE IS USUALLY 10 - 15% DISCOUNT OF THE ASKING PRICE. ONCE THE HOUSE IS APPRAISED, THE ASKING PRICE IS THEN SET. AS LONG AS THE HOMEOWNER PAYS THEIR NOTE TO THE FINANCIAL INSTITUTION WHICH HOLDS THE FIRST MORTGAGE, THEY NEVER OWE I58 ANYTHING. THE GOAL IS TO KEEP THE MARKET VALUE OF THE COMMUNITY STABLE AND PROVIDE AFFORDABLE HOUSING AT THE SAME TIME. THEREFORE, BY GIVING THE NEW HOMEOWNER THE FORGIVABLE SECOND MORTGAGE, THIS ALLOWS THE HOMEOWNER TO COME OUT ON TOP WITH EQUITY IN THE HOME FROM DAY ONE. WHILE THE HOUSE IS UNDER CONSTRUCTION BY I58'S PARTNER, I58 IS WORKING WITH POTENTIAL CLIENTS TO HELP THEM REPAIR AND/OR ESTABLISH THEIR CREDIT, LEARN HOW TO WORK WITHIN A BUDGET AND INSTILL THE IMPORTANCE OF MAINTENANCE WITHIN THE HOUSE TO MAINTAIN THE STABILITY OF THE HOUSE. THE GOAL IS FOR THE CLIENT TO SUCCEED IN THEIR NEW JOURNEY AS HOMEOWNERS. 2691 380441 true true false false false false false false false false true false false false true false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false true 0 0 4 true false false false false false false false false X 6 6 false false false false false false false true true false false true true true true true true true true false SC X X LESLIE BRAKEFIELD 8032095553 1841 JA COCHRAN BYPASS SUITE H CHESTER SC 29706 LESLIE BRAKEFIELD DEVELOPMENT 40.00 X 50000 0 0 KEVIN TAYLOR PRESIDENT 2.00 X X 0 0 0 JEFFREY COMMADORE VICE PRESIDE 2.00 X X 0 0 0 ANITA MCKINNEY TREASURER 3.00 X X 0 0 0 WYLIE FREDERICK DIRECTOR 1.00 X 0 0 0 ELOISE MCCREE DIRECTOR 1.00 X 0 0 0 WILLIAM RICE DIRECTOR 1.00 X 0 0 0 50000 false false false 68258 510317 578575 RENTAL INCOME 11200 11200 11200 CREDIT CARD CASH BACK REWARDS 297 297 297 590072 11497 50000 40000 7500 2500 25583 12792 12791 5782 4039 1552 191 2549 2549 2441 2441 10164 10164 12469 12469 1226 1226 6265 6265 6923 6923 5970 5811 159 3476 3476 CONTRACT LABOR & MATERIAL 285816 285816 AUTO EXPENSES 14481 10860 3621 MAINTENANCE & REPAIRS 4545 4545 PROPERTY TAXES 3210 2835 375 2130 555 1575 443030 380441 59898 2691 5017 123433 8005 87951 5341 251600 66643 464948 8846 4321 456102 24704 348889 684228 19929 37998 5937 93418 74363 51412 450 25804 100679 208632 X 248210 475596 248210 475596 348889 684228 X 147042 74328 6016 X true X false false false X 30893 53558 62124 255157 578575 980307 137411 110852 534531 773390 11497 1567681 168304 164410 596655 1028547 590072 2547988 2547988 3266 3266 168304 164410 599921 1028547 590072 2551254 0.99870 0.99850 0.00000 0.00000 X PART III, LINE 12 3,266 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 170000 170000 265988 7883 258105 17297 101 17196 11663 862 10801 456102 OPERATING LEASE LIABILITY 24704 RENTAL DEPOSIT 1100 25804 FORM 990, PAGE 2, PART III, LINE 4C TRANSITIONAL MEN'S HOUSING PROGRAM - THIS PROGRAM IS DESIGNED TO SERVE AS A RESIDENCE FOR CERTAIN MEN IN THE COMMUNITY. THE TRANSITIONAL HOUSE ITSELF FEATURES SIX BEDROOMS AND THREE BATHROOMS. THE HOUSE HAD BEEN ABANDONED FOR OVER A DECADE AND WAS PREVIOUSLY ENCUMBERED BY A RESTRICTIVE COVENANT IMPOSED BY HUD. IT NOW PROVIDES A SAFE AND SECURE ENVIRONMENT FOR MEN WHO HAVE SUCCESSFULLY COMPLETED A 90-DAY REHABILITATION PROGRAM AND WISHES TO CONTINUE THEIR JOURNEY OF RECOVERY. I58 OFFERS COMPREHENSIVE SUPPORT SERVICES, INCLUDING ASSISTANCE IN JOB PLACEMENT AND CREDIT BUILDING, ENABLING THESE INDIVIDUALS TO BECOME CONTRIBUTING MEMBERS OF OUR COMMUNITY IN AS LITTLE AS 18 MONTHS AND EMPOWERING THEM TO ACHIEVE INDEPENDENT LIVING. THE RESIDENTS OF THE HOUSE CONTRIBUTE 80 PER WEEK, WHICH GOES TOWARDS COVERING THE COST ASSOCIATED WITH THE MORTGAGE, UTILITIES, INSURANCE, AND MAINTENANCE OF THE PROPERTY. FORM 990, PAGE 2, PART III, LINE 4D THROUGH I58'S HOMEOWNERSHIP PROGRAM, A PIVOTAL PARTNERSHIP WAS FORGED WITH YORK TECHNICAL COLLEGE IN ROCK HILL, SC, ENABLING I58 TO CONSTRUCT 900 SQ. FT., 2-BEDROOM / 2-BATHROOM HOMES. THESE HOMES ARE METICULOUSLY CONSTRUCTED ON CAMPUS IN ROCK HILL, SC, AND THEN TRANSPORTED TO A LOT IN CHESTER COUNTY, SC, THAT WAS EITHER PURCHASED OR DONATED TO I58. THROUGH A PARTNERSHIP WITH THE CITY OF CHESTER, THE CITY HAS DONATED LOTS TO I58. THIS COLLABORATION NOT ONLY PROVIDED STUDENTS WITH VALUABLE HANDS-ON EXPERIENCE IN THE DIFFERENT AREAS OF CONSTRUCTION BUT ALSO SIGNIFICANTLY REDUCES I58'S CONSTRUCTION COSTS. WITH THE REDUCTION OF THE CONSTRUCTION COST, THIS ALLOWS I58 TO PROVIDE A FORGIVABLE SECOND MORTGAGE TO MAKE THE BORROWING AMOUNT LESS FOR THE HOMEOWNER FROM A FINANCIAL INSTITUTION. THE FORGIVABLE SECOND MORTGAGE IS USUALLY 10 - 15% DISCOUNT OF THE ASKING PRICE. ONCE THE HOUSE IS APPRAISED, THE ASKING PRICE IS THEN SET. AS LONG AS THE HOMEOWNER PAYS THEIR NOTE TO THE FINANCIAL INSTITUTION WHICH HOLDS THE FIRST MORTGAGE, THEY NEVER OWE I58 ANYTHING. THE GOAL IS TO KEEP THE MARKET VALUE OF THE COMMUNITY STABLE AND PROVIDE AFFORDABLE HOUSING AT THE SAME TIME. THEREFORE, BY GIVING THE NEW HOMEOWNER THE FORGIVABLE SECOND MORTGAGE, THIS ALLOWS THE HOMEOWNER TO COME OUT ON TOP WITH EQUITY IN THE HOME FROM DAY ONE. WHILE THE HOUSE IS UNDER CONSTRUCTION BY I58'S PARTNER, I58 IS WORKING WITH POTENTIAL CLIENTS TO HELP THEM REPAIR AND/OR ESTABLISH THEIR CREDIT, LEARN HOW TO WORK WITHIN A BUDGET AND INSTILL THE IMPORTANCE OF MAINTENANCE WITHIN THE HOUSE TO MAINTAIN THE STABILITY OF THE HOUSE. THE GOAL IS FOR THE CLIENT TO SUCCEED IN THEIR NEW JOURNEY AS HOMEOWNERS. FORM 990, PAGE 6, PART VI, LINE 11B EACH MEMBER IS FURNISHED A COPY OF THE FORM 990 WITH RELATED SCHEDULES TO REVIEW. FORM 990, PAGE 6, PART VI, LINE 12C CONFLICT OF INTEREST POLICY IS REVIEWED AS EACH MEMBER OF THE GOVERNING BOARD BEGINS THEIR TERM. FORM 990, PAGE 6, PART VI, LINE 15A COMPENSATION OF THE DIRECTOR OF DEVELOPMENT IS APPROVED BY THE BOARD. FORM 990, PAGE 6, PART VI, LINE 15B SALARY FOR THE DIRECTOR OF DEVELOPMENT AND OTHER EMPLOYEES ARE REVIEWED AND APPROVED BY THE BOARD. FORM 990, PAGE 6, PART VI, LINE 19 UPON REQUEST. FORM 990, PART XI, LINE 9 2022 FORM 990 PART X LN 23 ERROR 5,937 UNKNOWN DIFFERENCE 79 TOTAL 6,016